Called Revenue Recognition, the platform will work with the Subskribe Adaptive Quoting and Billing Platform and will let businesses integrate quoting, billing and revenue recognition in order to access better operations.
The module reportedly works by tracking the details for SaaS deals, including things like onboarding training, user support and professional services, thus minimizing confusion about what services have been delivered or are still owed.
The release says Revenue Recognition will allow for things like auditing revenue back to specific line items, tracking performance obligations remaining, reallocating revenue if needed and processing complex allocations and contract modifications if needed.
“Even if a SaaS company signs an annual contract and gets paid up front on day one, it’s not allowed to recognize that revenue on its books,” said Durga Pandey, CEO and co-founder of Subskribe. “Many SaaS companies use specialized revenue recognition software to track performance obligations from quote to cash. But that adds complexity, cost and overhead. It’s far more effective to bake revenue recognition into the quoting and billing system, so revenue flows are easy to manage. That’s now possible with Subskribe.”
There have been companies working on adding more SaaS capabilities in a variety of fields, reports have said.
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PYMNTS wrote that SaaS company Freterium, which works in transport management software, has raised $4 million in seed funding as of February this year.
Read more: Transport SaaS Startup Freterium Raises $4M in Seed Funding
The company was rolled out two years ago. Its product, a transportation management software intended to work for companies delivering products every day, connects shippers with their logistics network to collaborate in real time. The intent is to cut down on time and shipping costs.
According to Mehdi Cherif Alami, co-founder and CEO, the idea is an “endorsement” of their approach to helping with consulting and logistics.
